Distributor of eco-friendly lighting products, High Score, has signed an agreement with NexPhase Lighting to manufacture a series of energy-efficient LED parking lot lights and street lights.
Green Led Technologies (GLT), a subsidiary of Hi Score, has been trying to sign an agreement with a regional production company where it will become the proprietor of the design and IP rights of LED parking lot and street lights. Signing this agreement marks a significant millstone and still remains the primary focus of Hi Score’s business strategy. However, the company could not materialize the deal despite full-fledged efforts from the management. As a result, Hi Score’s previous President, Dror Svorai, resigned and established a new LED lighting factory called NexPhase Lighting.
NexPhase signed a licensing agreement with Hi Score. Under the agreement, Hi Score will become the proprietor of energy-efficient LED parking lot and street lights. The LED lights will be developed under the GLT Label. A sample of the product will go through standard testing procedures by October 2010 and will be ready by 2010 end. Hi Score aims to sell 1 million LED street lights over the next decade and expects to generate a revenue of over half a billion dollars.